DAUPHIN DEP. BANK AND TRUST CO. v. Hess

OPINION OF THE COURT

FLAHERTY, Chief Justice.

The issue in this appeal is whether the Superior Court abused its discretion in reversing the order of the trial court, which rejected a proposed settlement in a class action lawsuit. The lawsuit, initiated by Dauphin Bank, was á declaratory judgment action in which the bank sought the right to terminate unilaterally a certificate of deposit offering which was renewable at eighteen month intervals and which was available only for individual retirement accounts.

Between January 1982 and June 1984 Dauphin Bank offered certificates of deposit for…